It makes sense that most of us focus on money when it comes to our happiness. Not being able to afford stuff like rent is stressful, and going into debt to feed yourself just exacerbates that sense of powerlessness. Whatever your financial situation, unless you’re oligarch-levels of wealthy you probably focus everything on making, saving, and stretching a much money as possible.
But if you’re not happy even if your bills are paid and your debt is manageable, it’s probably because you’re thinking about money the wrong way. Instead of thinking about being affluent in terms of money, you should be thinking in terms of being affluent in time.
What is time affluence?
Time affluence—the feeling that you have enough time to accomplish everything you want to get done—is a crucial aspect of our happiness and sense of personal satisfaction. Time poverty is the opposite—that stressful feeling you get when there aren’t enough hours in the day to get everything done. Between commuting to and from our jobs, the time spent working, then the chores at home, many of us barely have time to eat some dinner and maybe stream a show before collapsing into bed—and starting the process over again the next day.
Then, our weekends are filled with household projects and maintenance and other responsibilities (or second jobs or overtime). We keep telling ourselves that we’ll get back to a hobby, or make time to see friends, or get some extra sleep next week, or next month, or at some unknowable time in the future.
Time poverty has been shown to have an adverse effect on both mental and physical health. The mistake many of us make is thinking that the answer to time poverty is simply having more money—but the key is using money to gain more time. If all you’re doing is selling more of your time (to a second job, or a more demanding position) then you’re actually increasing your time poverty even if your bank account is growing. On the other hand, having more money means you can potentially buy more time for yourself. The trick is to stop thinking solely in terms of how you’re spending your money and more in terms of how you’re spending your time.
How to become time affluent
Time is one of the few resources in our lives we can’t create more of no matter how creative, ambitious, or hard-working we are. You get 24 hours in a day and that’s it—and once those hours are gone you can’t get them back. But what you can do to become more time affluent is manage your time more effectively, treating it like the limited resource it is. You can achieve more time affluence by doing four fundamental things:
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Organize and prioritize. Since your time is limited, stop treating it like an amorphous, infinite resource you always have more of. Make lists of things you need or want to do and prioritize them. Then use time blocking to break each of those priorities into a fixed amount of time needed to accomplish them or at least move them toward completion. This avoids letting tasks pile up, which increases stress and that sense of not being in control of your time, and provides a visual guide to how your day will play out. And having clear times for specific activities to end will increase your efficiency.
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Delegate. Always think about what you can delegate to someone else. For example, if you can afford to hire cleaners for your home you can reclaim the time you would otherwise spend cleaning the house. You’re essentially buying time from someone else.
But reclaiming that time doesn’t have to mean paying someone. If there are tasks that someone else in your life could be taking on (chores at home or work tasks not officially in your job description, for example) that will also claw back some time for you.
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Automate. Are there aspects of your life you can automate? Bill paying is an easy example of this: Instead of spending an hour every week paying bills individually, setting up automatic payments gets you that hour back. Think about any opportunities you have to automate stuff—prescription refills, meal plans (if it’s in your budget), even grocery shopping can be automated these days through weekly subscription platforms.
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Monotask. Finally, be aware of what’s known as “time confetti”—the way we spend little bits of time on a seemingly infinite scroll of activities, most of them online. Jumping from thing to thing can feel like multitasking, but it isn’t an efficient way to get stuff done.
Instead, monotask, which means focusing on a single task until it’s done. It’s an extremely simple concept, but it requires discipline, like sticking to the time-blocking schedule you created, eliminating distractions, and forcing yourself to focus.
Having more money can make some of these steps easier or even possible, surely—but you can apply these four principles to your time management no matter what your financial circumstances are, and improve your time affluence to poverty ratio at least a little bit.